From Investing.com: 2024-06-10 04:25:00

Gold prices took a significant hit, dropping by 3.57% after strong US jobs data dampened hopes for a Federal Reserve interest rate cut. Nonfarm payrolls exceeded expectations, leading to a decrease in the likelihood of a rate cut in September. The US 10-year Treasury yields also surged after the report. XAU/USD is hovering around 2,300, with key levels at 2,300 and 2,280.

The Euro fell by 0.8% as the Dollar Index surged on solid US jobs data. Nonfarm payrolls rose by 272,000 jobs in May, exceeding forecasts. The Federal Open Market Committee is expected to maintain rates unchanged. EUR/USD dropped by 0.5% after French President Macron called for a snap election.

The Australian Dollar hit a four-week low below 0.66000 following strong US jobs data that reduced the chances of multiple Federal Reserve rate cuts. The US added more jobs than expected in May, leading to a drop in the likelihood of a rate cut in September. AUD/USD rebounded during Asian trading hours.



Read more at Investing.com: Gold, Euro Plunge on Strong US Jobs Data